It is possible for a seller to deliver goods without moving them.
“Ademption” means that if a specific bequest is not owned by the testator at the
testator’s death, then the named beneficiary receives nothing in connection with that
bequest.
There is no European Union central bank.
Most franchise agreements contain an arbitration clause, which provides that any claim
or controversy arising from the franchise agreement is subject to arbitration.
A decertification mark is a mark usually owned by a nonprofit cooperative or
association.
The United States is not a signatory nation to the “Biosafety Protocol.”
In order to be enforceable, any lease involving real property must be in writing.
Unless the operating agreement provides otherwise, a member of a “member-managed”
limited liability company has the power to withdraw from the limited liability company,
but a member of a “manager-managed” limited liability company does not.
The doctrine of respondeat superior makes a principal liable for any tortious or
criminal acts committed by the agent, in furtherance of the agency, that result in harm to
others.
Disparate impact discrimination can occur when an employer adopts a work rule that is
neutral on its face, but is shown to cause an adverse effect on a protected class.
One does not become the owner of property until the deed is recorded.
All restraints of trade are unlawful.
Generally, imprisonment is imposed to incapacitate the criminal so he or she will not
harm others in society, provide a means to rehabilitate the criminal, deter others from
similar conduct, and inhibit personal retribution by the victim.
If the seller requires cash payment, the buyer must be given an extension of time
necessary to procure the cash.
One of the primary functions of the WTO is to hear and decide trade disputes between
member nations.
Negligence is defined as the failure to do something a reasonable person would do, or
doing something a prudent and reasonable person would not do.
Ted crosses the street while not paying attention and fails to notice a flashing “Do Not
Cross” sign. Alice, who is distracted, sees Ted at the last minute and hits him, breaking
his leg. When Ted sues Alice, she can successfully use the defense of assumption of
risk.
A motion for summary judgment asserts that there are no factual disputes to be decided
by the jury and that the judge should apply the relevant law to the undisputed facts and
decide the case.
If you promise to keep an offer open until 4:00 p.m. and no consideration is exchanged
when the offer is made, that offer may not be revoked prior to 4:00 p.m.
State limited-jurisdiction trial courts, which are commonly referred to as superior trial
courts, hear matters of a specialized or limited nature.
RICO has been applied to defendants who have no connections to organized crime.
If the transfer of a contract to a third party contains only language of assignment, the
modern view holds that there is a corresponding delegation of the duties of the contract.
The Magnuson-Moss Warranty Act covers written warranties relating to commercial
and consumer products.
An arrest warrant is required before any arrest can be made.
As established by the United States Constitution, the executive branch of government
(the United States president) has the power to make the law.
The Consumer Product Safety Commission (CPSC) is an independent federal
administrative agency.
If a voidable contract is avoided by one of the parties, the other party is still obligated to
perform.
A videotaped will is preferred by the probate courts as a substitute for a written will.
Both mediation and conciliation make use of a neutral third party to decide a dispute.
Purchasers of a condominium own the common areas as tenants in common with the
other owners.
A limited liability company can only be created pursuant to the laws of the state in
which the LLC is being organized.
A limited liability company is not a separate legal entity distinct from its members.
A party’s duty to perform under a contract may be discharged by mutual agreement of
the parties, by impossibility of performance, by commercial impracticability, or by
operation of law.
Rescission is available for a contract involving fraud.
The holder of a negotiable instrument has fewer rights than an assignee of an ordinary,
nonnegotiable contract.
Registered accounting firms that audit more than one hundred (100) public companies
annually are subject to inspection and review by the Public Company Accounting
Oversight Board (PCAOB).
The major forms for conducting businesses and professions are: (1) sole proprietorship;
(2) general partnership; (3) limited partnership; (4) limited liability partnership;
( limited liability company; and (6) corporation.
The parties participating in a joint venture owe each other a fiduciary duty of loyalty.